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Tag: Business Leaders

  • Boost Innovation in Family Business by Promoting Autonomy With Strategic Control   

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    As the pace of change in the world increases, family businesses are often faced with the need to increase innovation to adapt to changes in the market and the family. It might mean coming up with an innovative product, feature, manufacturing process or whole new operating model. It might also require a creative dividend strategy or approach to family communication to serve a fast-growing family and shareholder base. 

    Whatever the specific need might be, family enterprises may face greater challenges making it happen than non-family businesses. Research indicates that the ability to innovate can decline across generations, with later generations producing far fewer innovations. Family leaders looking to enhance innovative behaviors, especially among rising generations, can follow this simple advice: promote autonomy by wielding control strategically.  

    Autonomy and innovation 

    Several years ago, I led a study looking at how people management influenced the behavior and attitudes of teams working on product management and development. One of our main hypotheses was that micromanagement, in the form of strict control, would stifle morale across the board. 

    Surprisingly, our research showed that tight controls on how team members carried out their day-to-day activities had a mostly positive impact on their attitudes and behavior. This was only true if they were working on projects where the market and technology were well-understood–such as for teams managing existing products. However, the more important finding was that when teams were working on innovative products where the market and/or technology was more ambiguous, the impact of leader control of day-to-day activities was clearly negative. In short, excessive control stifles innovation. 

    That’s because control diminishes autonomy or a sense of independence, long recognized as an essential component of innovative, creative behavior. Individuals need space to explore and experiment, leading to novel ideas and innovative activity.   

    However, autonomy can and does decrease across family business generations, driven by increased complexity in both the family and business as well as the need for the business to support a growing number of family members. Tradition and legacy can exacerbate this with a “Don’t rock the boat,” or “This is how our family has always done things” approach. Consequently, next-generation leaders often lack the autonomy required for innovative thinking and may feel pressured to maintain the status quo.   

    Wield the right control 

    The answer is not to remove all controls or expectations for next-generation members. Instead, family business leaders can use strategic control to increase autonomy with an outcome-focused approach. Most families use a specific kind of control when dealing with the next generation–called “process control” or “behavioral control.” It’s about micromanaging behavior to drive desired outcomes. It’s based on the assumption that because of the experience of prior generations, the “what,” “how,” and “why” are already understood. Thus, there’s one right or best way to do things. Not surprisingly, that rigidity diminishes innovation.    

    Instead, aim for “outcome control,” with focus on controlling the result of a process or activity, but leaving the “what,” “how,” and “why” to the individual. Families tend to avoid this approach because it implies that there exist alternative and perhaps even superior ways to accomplish goals than what they already know. This can call into question the legend of the founder, the eminence of current generation leadership, and other long-held, sometimes unspoken beliefs about how things should be done.    

    The genius of outcome control is that it provides autonomy for next-generation members to experiment, learn on their own, and apply their unique skills and talents to problems without sacrificing expectations for performance. This increased autonomy will drive higher levels of innovative thinking, activity, and results.   

    Quick tips to get it right 

    While using outcome control might not be the natural approach for you, the benefits are worth the effort. Here are some things senior-generation leaders can do to drive innovation by shifting from behavior control to outcome control.  

    • Accept that change is inevitable.
      Change is the only constant. Even if the family knew the best way to do things at one time, things change, and you’ll have to as well. Take an adaptive, flexible approach.   
    • Leave your ego at the door.
      It’s not about what’s best for you but what’s best for the family and its enterprise. Make it about them with statements like, “I trust you,” and “I’m confident in you.” More we, less me.   
    • Recognize the diversity of capabilities in the family.
      Everyone has different talents, capabilities, and interests as related to business, family, and broader life. People and organizations are most successful when they are allowed to use/develop these and or apply these to their work in unique ways. Harness the collective and individual abilities in your family. 
    • Promote continuous improvement.
      There is always a better way, but you have to be open to finding and embracing it. The mantra should be that of The Six Million Dollar Man, “You can rebuild it “better, faster, stronger.”   

    Innovation is critical no matter what business you’re in. Family enterprise leaders can promote maximum innovation in next generations by wielding control with care. When they focus on outcomes rather than processes, they’ll enable the autonomy and creativity that goes with it. 

    The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

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    Matt Allen

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  • Utah launches new pledge after receiving $200M in pledged Great Salt Lake donation

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    Editor’s note: This article is published through the Great Salt Lake Collaborative, a solutions journalism initiative that partners news, education and media organizations to help inform people about the plight of the Great Salt Lake.

    FARMINGTON — The Great Salt Lake is once again in peril as its levels slide closer to its all-time low set three years ago, but a new joint public-private mission seeks to save the lake ahead of the 2034 Winter Olympics and beyond.

    Utah Gov. Spencer Cox announced the formation of GSL 2034, a new public-private charter that calls on all Utahns — residents, farmers, business leaders, researchers and elected leaders to “stand shoulder-to-shoulder” in a commitment to take steps to help the lake. It also comes with a $200 million donation pledge, half of which has already been committed by the organization Ducks Unlimited over the next decade, while local business leaders plan to raise the other half.

    The money raised will go toward multiple solutions that protect the lake.

    “We will not let the Great Salt Lake fail,” Cox said, standing at a podium overlooking a drying Farmington Bay Wednesday afternoon, while surrounded by state and congressional leaders, as well as prominent figures in Utah’s business community. “It’s part of the soul of Utah. It’s who we are. It’s what we’re known for across the world and across time.”

    Wednesday’s announcement followed a meeting between state and federal officials, as well as several prominent business leaders. The group met as the lake continues to drop closer to its all-time low amid hot and dry conditions since springtime.

    The lake’s southern arm has fallen to 4,191.1 feet elevation, a tick above its northern arm. Both arms are approximately 2½ feet below the lake’s record low set in 2022, and 7 feet below what the state considers its minimum healthy level.

    Its decline dropped the lake back into the “serious adverse effects” range outlined in the state’s management plan. Researchers say potential impacts on mineral production, recreation and air quality emerge after the Great Salt Lake slips below 4,192 feet elevation, as water becomes more scarce and its exposed lakebed pushes dust toward communities during wind events.

    This story will be updated.

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  • Most Founders Start With the Product. I Started With These 3 Questions Instead. | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Too many founders start with the product. They get excited, build something, and then scramble to figure out if anyone actually wants it.

    I almost did the same. Technically, I started by generating silly AI images of my boss to make my coworkers laugh. But when I saw the potential of the tools I was playing with — and how accessible they were becoming — I realized I could turn it into something real.

    I didn’t have a background in AI or deep learning. But with open-source tools like Stable Diffusion suddenly available, people like me could build things that felt like magic.

    And like most entrepreneurs, I wanted to move fast. But instead of rushing to build, I gave myself a reality check. I asked three hard questions before writing a line of code. That checklist became the foundation of my business — and helped me avoid wasting months (and money) on a product no one wanted.

    These same questions apply whether you’re launching a SaaS company, a consumer product, a service-based business, or, yes, an AI tool.

    Related: AI Isn’t Plug-and-Play — You Need a Strategy. Here’s Your Guide to Building One.

    1. Is there real demand?

    Before investing anything in product development, I set up a test. I opened an Etsy store selling AI-generated pet portraits during the holidays. It was clunky. Every order meant I was manually training models and fulfilling them by hand.

    But people paid. They loved the results. It wasn’t scalable — yet — but that didn’t matter. It gave me proof:

    • I could deliver something people genuinely valued
    • They were willing to pay for it

    This kind of early signal is more important than a sleek prototype or a detailed roadmap. For you, it might mean selling a simplified version of your offer, pre-selling a service, or running a paid pilot. The goal is the same: confirm there’s real demand before you build at scale.

    2. Will people pay me — and how?

    After validating interest, I started experimenting with pricing. We tested $15, then $25. We ran ads on Reddit. Some worked, most didn’t. I tried subscriptions — but quickly realized that running custom-trained models on demand was too expensive to support recurring plans at an early stage.

    So I switched to a one-time payment model. Simple, low-friction, no complicated onboarding. We started at $9.99, and conversions were strong. Over time, we added higher-tier pricing — but from day one, the business had to make financial sense.

    Many people advised offering a freemium version. I considered it, but GPU costs made that unrealistic. Instead, I built a free tool that looked like our main offering (an AI headshot generator) but was actually a low-cost background remover. It gave users a taste of the experience and warmed them up to buy. And it converted.

    The takeaway? Revenue models aren’t just about pricing — they’re about sustainability. Founders often over-index on what’s ideal for the user and forget what’s viable for the business.

    3. Can I actually reach people?

    I didn’t have an audience. I didn’t have connections or media buzz. But I had Reddit.

    I started joining threads where people were talking about AI headshots. I added value, offered comparisons, answered questions — and eventually, shared my own product. That got us our first 100 customers. We used Google Ads to scale to 1,000.

    It wasn’t viral. It wasn’t pretty. But it worked. Why? Because I focused on solving the hardest part of distribution first: attention and trust.

    When people think about go-to-market, they think channels. But it’s better to think in terms of risk:

    • Can you find the right people?
    • Can you earn their attention?
    • Can you convert them — without overspending?

    If the answer is no, it doesn’t matter how good the product is.

    Related: AI Will Define Your Brand If You Don’t — Here’s How to Take Control

    Don’t build until you can answer these three questions

    Every founder wants to build something great. But building too early — or on shaky assumptions — can kill even the best ideas.

    A rough product built on real answers will always beat a polished one built on hope.

    So before you start building or investing heavily in a new product or service, ask yourself:

    • Who wants this right now?
    • Will they pay?
    • Can I reach them profitably?

    Everything else can wait.

    Too many founders start with the product. They get excited, build something, and then scramble to figure out if anyone actually wants it.

    I almost did the same. Technically, I started by generating silly AI images of my boss to make my coworkers laugh. But when I saw the potential of the tools I was playing with — and how accessible they were becoming — I realized I could turn it into something real.

    I didn’t have a background in AI or deep learning. But with open-source tools like Stable Diffusion suddenly available, people like me could build things that felt like magic.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

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    Jeremy Gustine

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  • LI business leaders rally for paralyzed dad’s fundraiser | Long Island Business News

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    Long Island business leaders back a Sept. 13 fundraiser for a paralyzed Stewart Manor dad injured in a skiing accident earlier this year.

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    Adina Genn

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  • Introvert Warren Buffett Reveals Secret to Public Speaking | Entrepreneur

    Introvert Warren Buffett Reveals Secret to Public Speaking | Entrepreneur

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    Most people (56.8%) around the world identify as introverts, according to a 2020 study from The Myers-Briggs Company. Those with an introverted personality are often reflective and self-aware, prefer to write rather than speak and feel tired after being in a crowd.

    Naturally, many introverts aren’t big fans of public speaking. Addressing an audience might be an inevitable part of professional life, but the average introvert probably isn’t clamoring to get in front of a group.

    Related: I Work With Warren Buffett. He’s Probably the Smartest Person in the World — Here’s the Best Advice He’s Given Me.

    Even the most successful business leaders in the world aren’t immune to stage fright.

    Warren Buffett, the 94-year-old billionaire chairman and CEO of conglomerate holding company Berkshire Hathaway, considers himself an introvert. In his biography The Snowball: Warren Buffett and the Business of Life by Alice Schroeder, he admits that speaking in front of a crowd used to make him physically ill.

    Image Credit: Chip Somodevilla | Getty Images. Warren Buffett.

    “I was terrified of public speaking,” Buffett says. “You can’t believe what I was like if I had to give a talk. I was so terrified that I just couldn’t do it. I would throw up. In fact, I arranged my life so that I never had to get up in front of anybody.”

    Related: In Leadership, Introversion Is Underrated — and Warren Buffett and Bill Gates Share How They Use It to Their Advantage.

    After Buffett graduated from Columbia Business School, where he studied under investor Benjamin Graham, he returned to Omaha, Nebraska. There, he saw an advertisement for a public speaking course using the Dale Carnegie method.

    Buffett was familiar with Carnegie’s 1936 self-help book How to Win Friends & Influence People, and he’d even signed up for a Carnegie public speaking class in New York — before he backed out and stopped payment on the $100 check.

    Buffett decided to give the course another chance in Omaha.

    “I took a hundred bucks in cash and gave it to Wally Keenan, the instructor, and said, ‘Take it before I change my mind,’” he recalls in The Snowball.

    Related: 5 Mega-Successful Entrepreneurs Who Are Introverts

    In Keenan’s class at Omaha’s Rome Hotel, Buffett discovered the key to conquering his public speaking fears.

    “The way it works is that you learn to get out of yourself,” Buffett explains. “I mean, why should you be able to talk alone with somebody five minutes before and then freeze in front of a group? So they teach you the psychological tricks to overcome this. Some of it is just practice — just doing it and practicing.”

    Practicing under the same conditions in which you’ll speak or otherwise perform can help promote success in high-pressure situations, Sian Beilock, cognitive scientist and current president of Dartmouth College, told Entrepreneur in 2022.

    Related: Steve Jobs’ Public Speaking Power Moves Remain Just as Relevant Today, 13 Years After His Final Keynote at the Apple Developers Conference

    Additionally, it can help to take a step back as the event draws near, according to Beilock. Then, during the high-stakes moment, she suggests interpreting physiological responses positively; for example, consider sweaty palms or a racing heart signs of excitement rather than anxiety.

    “And it worked,” Buffett says of the psychological techniques he learned in his public speaking class many decades ago. “That’s the most important degree that I have.”

    Buffett‘s certification of completion for the Carnegie course, dated January 1952, hangs above the sofa in his office, according to Schroeder’s account.

    Related: I Spent a Day Living Like Billionaire Warren Buffett. Here’s What Happened.

    Now, Buffett stands in front of an audience of 40,000 at Berkshire Hathaway’s annual shareholder meeting, where attendees line up hours before the event to listen to the Oracle of Omaha speak.

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    Amanda Breen

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  • How I Discovered the Value of Imperfectionism and Made It My Team’s a Secret Weapon | Entrepreneur

    How I Discovered the Value of Imperfectionism and Made It My Team’s a Secret Weapon | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    When my company launched a community feature for our customers a couple of years ago, we made some incorrect assumptions in our messaging that derailed the campaign’s success. But when our creativity didn’t land, instead of learning from our mistakes, we made an even bigger error: we abandoned our efforts altogether. The truth? We were perfectionists struggling to face a fairly public failure. But instead of iterating on our campaign to improve it, we let it fizzle out.

    They say perfection is the enemy of progress, and I’ve seen this play out both in my own career and with many entrepreneurs. No matter how genius an offering is, the pressure of getting everything just right can often delay — or completely derail — a launch.

    Perfectionism is a well-known enemy of productivity, the root cause of many psychological disorders and a common answer to the interview question, “What is your biggest weakness?” But while we recognize perfectionism as a barrier to progress (and I certainly have), why do so many creative and innovative people still fall into its trap?

    Perfectionism might not be a new hindrance, but it is on the rise – and not just with entrepreneurs. A culture of competitive individualism, amplified by social media, pressures all of us to be flawless and can seriously undermine our ability to succeed in business. In fact, it almost certainly guarantees failure.

    The reality is, we all need to be able to take risks — and fail — in order to improve our work. Embracing the value of imperfection is the only viable way to get there.

    Perfectionism can be downright damaging

    As a recovering perfectionist, I now understand that perfectionists are more than just uptight overachievers. They can obsess over meeting exceptionally high standards and unrealistic expectations. They can even be highly self-critical and fear criticism from others. And yet many go into their entrepreneurial journey by comparing themselves to those who have already hit it big, blind to any mistakes those role models made along the way.

    Nearly every entrepreneurial success story is built on the back of countless failures – and many entrepreneurs are famous for it. But I’ve witnessed personally how striving for perfection from the outset doesn’t lead to a successful offering. In fact, the results can be the opposite: no launch at all. Perfectionism often holds would-be entrepreneurs and creators back from sharing their unique genius with the world and getting a finished product out in the market. However, there are ways to overcome it. And I should know: I’m still working on overcoming it myself.

    Fail small, win big

    After the communities launch failure (which, fortunately, was a small one in the grand scheme of things), I learned an invaluable lesson: the best way to handle failure is by examining it, embracing it and using it to improve, not by hiding from it and pretending it didn’t happen.

    Nowadays, we approach our launches much differently – in phases that allow us to test the waters, get feedback from our customers, and iterate on our approach and messaging until it hits just right.

    Making mistakes is par for the course in business, but learning from them and correcting the course is the only way to turn them into a net positive. Many of the most successful creators go a step further and share their failures publicly. Patreon’s CEO Jack Conte calls it normalizing the duds, and his approach is pure storytelling genius: a balance of humility and humor that makes his failures feel like an actual work of art.

    Getting past perfectionism

    As a recovering perfectionist, I know that embracing imperfectionism is easier said than done. We’re all operating within a hyper-competitive and often unforgiving business climate where every move (especially wrong moves made publicly) can be ruthlessly analyzed and criticized. We’ve all seen the chilling effects cancel culture has on individuals and businesses that have made irreparable mistakes.

    Moving past perfectionism means intentionally taking calculated risks and baking blunders right into the development process. Here are a few strategies we use to make that process more palatable:

    • Connect with a community of peers: Sharing imperfect work is easier when those around us are doing it too. Getting connected to a community of entrepreneurs in trial-and-error mode is the best way to see that you’re not alone. In fact, by becoming an entrepreneur, you’re part of a group of people in the business of overcoming failure. Whether you find that group through a coworking space or a software-related community, look to others who can accept critical feedback and allow it to inform progress.
    • Adopt a coaching mindset: Reminding yourself that nobody’s perfect is helpful because even seasoned experts make mistakes. Redefining the way I perceive failure (and success) meant rebranding missteps as an opportunity to iterate. You can even rewire your brain to appreciate critical feedback for the gift it is.
    • Look beyond the launch: Product, campaign or company launches often create an intensity that brings out your best work, but leaning into them too much can lead to a letdown – especially if the results don’t meet your expectations. I often tell my team not to put too much creative energy into something that will likely need to change once it’s in market. Even if it’s flawed, I know we’ll learn something as soon as it goes live that will enable us to improve it.

    The truth is, we all have moments of uncertainty. But no matter how uncomfortable it feels to put your creative work out there for judgment, the reality is that people will judge it whether you think it’s perfect or not. Accept that fact, cut yourself some slack and don’t let the idea of perfection hold you back from sharing your unique genius. Done is better than perfect, after all.

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    Christie Horsman

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  • Strategic Searching: Effective Methods for Finding CEO Contacts – Southwest Journal

    Strategic Searching: Effective Methods for Finding CEO Contacts – Southwest Journal

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    Having direct access to top bosses can help you out these days.

    CEOs are key players who steer their companies and make big choices. They also build important connections that lead to chances for partnerships.

    But it’s not always easy finding the right info to reach these super busy and private people. They’ve got a lot on their plates.

    That’s why we need some smart tactics and helpful resources to unearth their contact specifics. If you are looking for a way to do so, check SignalHire.

    Digging those up is gold, as it clears a path for valuable networking.

    Key Takeaways

    • Sales intelligence tools and manual searches both effectively uncover CEO contacts for those willing to invest effort. 
    • Personalizing outreach to align with a CEO’s background and responsibilities boosts message impact. 
    • Understanding a company’s tech stack and leadership’s buying behavior helps sales reps identify key needs or challenges.

    Tools and Techniques for Finding CEO Contact Information

    First, let us go through different techniques and tools you can utilize to find CEO contract information.

    Using Software and Databases

    Using Software and Databases

    B2B sales have really changed over the years. Now there are way more people involved in each sale than before.

    That’s why using smart tools is so important when trying to reach top business leaders. Things like databases with CEO contact info can help, but they have some downsides too.

    Providers like Prospect IQ offer lists that include emails and numbers for bosses. But the contact details might be out of date or incomplete. And you gotta pay subscription fees to use these resources long-term.

    Email verifiers are helpful additions that double-check if addresses are still good before you message someone. Services like MailTester and ZeroBounce make sure your important messages get through.

    CEOs want to limit spam, so keeping information locked down tight is smart on their part. That’s why validation tools are crucial nowadays. They help you reach key people without cluttering inboxes or wasting your efforts.

    Manual Search Strategies

    Even with all the new tech tools, old-fashioned searching still has merits when trying to reach important business leaders.

    Manual methods take more time but don’t cost money like databases. Tactics include signing up for company emails, investigating partner businesses, and maximizing Google’s search powers.

    Other low-tech options are directly messaging companies, carefully reading press releases, and connecting through LinkedIn. The personal contact shows CEOs you put in real effort.

    Of course, manual hunting demands patience and an eye for detail. You need to dig deep online and through sources to find each helpful clue. Then reach out with a friendly, customized message that shows why connecting is worth their time.

    It’s okay if manual methods move more slowly. What matters is showing decision-makers you care about understanding their business better.

    Sales Intelligence Tools

    Sales Intelligence ToolsSales Intelligence Tools
    This Image Is Generated by Midjourney

    Technology has really changed how sales reps do their jobs these days, especially when trying to link up with top business leaders, like Magic Johnson.

    Programs like SalesIntel and LeadIQ provide sales teams with tons of useful information, far more than just basic contact info. These platforms dig deep into companies and the executives running them.

    They uncover details that were difficult or impossible to find before now. Salespeople gain insights into things like a CEO’s interests, past projects, and current priorities. This type of rich data helps reps start discussions on a much more personal level.

    Where manual searching and basic databases only offer surface facts, these new intelligence tools shine a light in the hidden places. They give reps a true advantage in figuring out the best ways to support each CEO’s unique goals.

    Comprehensive Data Access

    Before, everyone pretty much got the same generic introduction since the info was limited. But tools like SalesIntel and LeadIQ allow for way more customized contact now.

    By providing a huge pool of rich details on companies and their leaders, these platforms empower reps to personalize their whole strategy. Instead of a one-approach-fits-all, reps can craft unique discussions for each CEO based on deeper insights.

    It’s like the tools flipped the script completely. reps can aim connections directly at what really matters to specific executives now. 

    Detailed Professional Profiles

    Detailed Professional ProfilesDetailed Professional Profiles
    This Image Is Generated by Midjourney

    Being able to see a top boss’s past roles, accomplishments, and strengths really helps salespeople understand their path. It gives context for why they care about certain things.

    That knowledge is a goldmine for customizing connections. With insight into a CEO’s journey and long-term plans, reps can highlight how their product fits that vision perfectly.

    Instead of generic pitches, reps use profile details to craft conversations centered on what truly motivates each leader. Showing that type of understanding grabs way more attention than a one-size message.

    Areas of Expertise

    Knowing a CEO’s strengths lets reps customize their approach in very smart ways.

    For example, if a boss has experience in tech, reps can highlight how their product uses innovative solutions. Focusing on areas the CEO understands grabs their attention way more than a generic pitch.

    Being able to pinpoint backgrounds is such a gift. These sales intelligence programs provide details that help reps personalize outreach down to a very fine level.

    Matching messaging to a leader’s specific field of expertise makes the conversation immediately relevant to them. That sparks interest versus a one-size-fits-all message any CEO might ignore.

    Current Responsibilities

    CEO Sales ToolsCEO Sales Tools
    This Image Is Generated by Midjourney

    These sales tools give details on the projects and goals a leader is working on at that very moment. Reps can then craft messages showing how their product supports that specific work.

    Positioning offerings as direct aids for what’s front and center for the CEO now catches their eye way more than generic pitches. It shows the rep truly pays attention to what’s most pressing.

    Knowing current responsibilities is such a gift. It empowers reps to engage decision-makers with relevance to their immediate needs. And that type of personalized message is much more likely to lead to discussions about real partnerships.

    Technographic Insights

    Knowing what tech tools companies already use is important these days. These sales programs give details on things like which CRM or marketing programs different businesses have.

    That type of info lets reps spot where a company may be struggling with its current setup. Or maybe there’s room to add something new. Either way, reps can craft pitches highlighting exactly how their product improves or adds to the tech stack.

    Targeting needs or issues with existing systems is way smarter than generic messages. It shows the rep understands the company’s specific situation. And addressing real problems businesses have grabs way more attention than just saying what your product does.

    Behavioral Insights

    Sales ProgramsSales Programs
    This Image Is Generated by Midjourney

    Sales programs give details on what products bosses picked before and any challenges they mentioned. That type of info helps reps craft messages addressing real issues on a CEO’s mind.

    Knowing past decisions and future goals lets reps highlight exactly how their offering meets those aims. It shows they really pay attention to what motivates each leader long-term.

    Targeting past buying patterns and future visions is way smarter than one-size pitches. It proves to CEOs the rep understands their unique priorities. And addressing what drives key people grabs way more interest than generic sales speak.

    Being able to spot trends and aspirations from profiles truly empowers customized outreach. It gives reps the power to start important discussions focused on shared success. 

    Alternative Strategies for Contact Discovery

    Making friends in your field is super important for finding CEO info. Connecting with others leads to great referrals, helping you skip past locked-down details.

    Industry meetups are also goldmines. Face-to-face time lets you introduce yourself directly to bosses. Just be friendly and look for chances to chat.

    Don’t forget about company helpers too. Reaching out to assistants and such is smart. They know the executives and might pass your message along if they like you.

    Building networks and bonds takes effort, but it for sure pays off when trying to reach busy decision-makers. Personal relationships are key, so put yourself out there and represent your brand well at all events.

    Effective Communication with CEOs

    Effective Communication with CEOsEffective Communication with CEOs
    This Image Is Generated by Midjourney

    Emailing CEOs is tricky since you gotta make each one count. CEOs get tons of messages daily, so yours needs to stand out.

    Crafting the perfect note is like an art. Studies show emails to bosses do better than others, so focus there. Start with a catchy subject to grab their eye. Then make the opening line personal by name.

    Quickly tell them the “What’s in it for them” so they understand the benefits. Add any interesting info from your field too while pointing out advantages.

    Gently ask for a reply using soft calls to action, not pushy demands. And wrap it up neatly by signing off professionally yet friendly-like.

    The Bottom Line

    Sales is a tricky territory to cross, so keeping an open mind and trying different avenues is key. These tools and tactics together offer a full blueprint for tracking down busy decision-makers.

    The most important things are sticking with it, being willing to change plans, and always focusing on the value you bring. Reps have to show CEOs they truly care about supporting goals, not just making sales.

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    Natasa Pantelic

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  • 3 Ways to Navigate the Journey from Entrepreneur to CEO | Entrepreneur

    3 Ways to Navigate the Journey from Entrepreneur to CEO | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Based on Noam Wasserman’s The Founder’s Dilemma, 4 out of 5 entrepreneurs step down as CEO, either because they discovered they weren’t fit for the role or because investors ousted them from the company. This adds up to the notion that entrepreneurs rarely make good CEOs.

    However, a recent study showed that companies with founder-CEOs were valued 10% higher during IPO. There’s a premium associated with having the founder as the top executive when a company goes public.

    Successful entrepreneur-CEOs, such as Jeff Bezos of Amazon and Larry Ellison of Oracle, led their companies to massive growth before stepping down as chief leaders. I started my entrepreneurial journey at a young age and eventually established Admitad in 2009, which has since grown to become one of the world’s largest partner marketing networks, consistently reaching over 500 million customers globally every month. After years of growing the company and acquiring several businesses, we decided to consolidate all entities under the wing of a new parent company, Mitgo, where I currently serve as the CEO and remain the sole owner.

    Here are my three key lessons for the transition:

    1. Know when to evolve as an entrepreneur

    Entrepreneurs and CEOs have distinct roles. Entrepreneurs are visionaries who create and transform groundbreaking ideas into successful, viable businesses. CEOs, on the other hand, execute the vision and build the infrastructure for the business to succeed, scale and adapt.

    While many entrepreneurs can successfully grow their businesses, they often struggle to move beyond the entrepreneurial level of sustainability. To reach a larger scale, a startup needs a CEO. Embracing this natural evolution is essential for achieving true success.

    To me, the realization came when I noticed a decline in our business’s growth. We needed to transition to another stage of development and implement a management system.

    Recognizing the need for change and having the courage to take action are vital aspects of leadership. To become a CEO, you must develop strengths in structure, organization, and delegation. It’s a cognitive, proactive and deliberate process. It requires learning new skills, adopting new systems, and trusting others to make critical decisions.

    Related: Here Are the Key Traits of a Top-Tier People Leader

    2. Nurture leaders within the company

    Entrepreneurs often start their journey alone. Even when a small team joins, the company structure remains informal, with founders taking on multiple roles. However, as the organization grows, entrepreneurs must relinquish some control by shifting from a hands-on approach to delegating crucial tasks to trusted leaders.

    Becoming that thin throat for everything is not a good thing. To create something great, something bigger, you have to form leaders within your company. Nurturing leaders goes beyond simply assigning tasks to individuals. It involves creating a culture that values and fosters leadership qualities at every level.

    As a CEO, you must empower leaders to make critical decisions, take ownership and drive the company’s mission forward. Decentralization means letting go of a tightly controlled ship that relies on a top-down approach to decision-making.

    Once you stop micromanaging every detail of the company, you can focus on larger strategies to scale your business and ensure its long-term success. To implement this principle, Mitgo now has business units led by specific individuals who act as CEOs of their respective units. They still report to a board but have been trained with the necessary skills to lead.

    3. Build a sustainable business — don’t just create a “cash cow”

    It’s normal for entrepreneurs to build a business to make lots of money. After all, who doesn’t enjoy significant revenue and profitability? So, founders typically focus on quick wins, immediate profits and short-term gains.

    But every visionary entrepreneur should embrace a deeper and more enduring concept: building a sustainable business. We need to build companies that are transferable and will continue to work even when we’re out of the picture.

    It starts with the legal. When the founder is gone, and they are the only founder, the company has no choice but to die. I want my company to live long after.

    Building the legal foundations to make the business transferrable is just the start. As a CEO, you have to pave the road that others can follow without the risk of failure. This means putting signposts to guide them along a clearly designated path. It also means realizing that they all have families and that the decisions you make can impact them.

    Related: 8 Ways to Turn a Good Leader Into an Exceptional One

    The leadership qualities of a good CEO

    Entrepreneurs are born leaders. From an early age, they are inherently creative and possess the skills to make things happen. During the early stages of the business, they lead by example and play a crucial role in driving the team’s success.

    However, transitioning to a CEO role requires additional leadership qualities. Being a good CEO means acknowledging that you cannot do everything alone. You must delegate responsibility and empower the team to take ownership of their work. You must be receptive to feedback and listen to what others have to say.

    In a constantly evolving business landscape, you must be willing to pivot when necessary and make well-informed and timely choices. You should also take accountability for the outcomes of your decisions and stand behind them.

    Furthermore, you should continue to encourage a culture of innovation and proactivity. This includes promoting a forward-thinking mindset and staying on top of trends. As CEO, you must continue to seek out opportunities and address potential issues before they arise. Remember, you are shaping the future of your organization.

    In the initial stage, you are the nucleus that holds the whole team together. At some point, you realize you can’t do it on your own. You take people with good soft skills, teach them the hard skills and give them time to grow. You rely on them to help lead the company while you pursue strategies to grow the business. That’s how you become a CEO.

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    Alexander Bachmann

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  • Why Gratitude Makes Leaders More Effective | Entrepreneur

    Why Gratitude Makes Leaders More Effective | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Recently I had one of those days. Although nothing catastrophic happened, there were a series of minor events that didn’t make for a good day. In turn — as a result of my mood — many of the daily road bumps felt worse than they really were. By the end of the day, I was exhausted and frustrated.

    However, I didn’t want to spend what time I had left in the day feeling this crummy. It wasn’t fair to my family or me. The last thing I wanted was to be short with them or to lose sleep because I was tossing and turning. So, I took a few minutes for myself and focused on all the things that went right today. I also reflected on all the small things that made the day awesome.

    And guess what? I didn’t just feel better. I felt amazing.

    It may sound strange, but this is the power of gratitude. It’s one of the most effective ways to become not only a better leader but also a better person. But, if you are not convinced about this, let’s explain why great leaders should practice gratitude and how they can do so every day.

    Related: Cultivating Gratitude and Happiness Will Boost Your Business

    How gratitude makes you a better leader.

    Before I discuss how gratitude can make you a better leader — I think everyone should be aware of why we know about the gratitude practice. The effects of gratitude were studied in the works of Robert Emmons, Ph.D., at the University of California, Davis. Emmons studied the impact of gratitude on physical health, psychological well-being, and on our relationships with others. Immersed in this work for over a decade, Emmons found that gratitude comes with the following benefits:

    Physical

    • Stronger immune systems.
    • Not as bothered by aches and pains.
    • Lower blood pressure.
    • Exercise more and take better care of their health.
    • Sleep longer and feel more refreshed upon waking.

    Psychological

    • Higher levels of positive emotions.
    • More alert, alive, and awake.
    • More joy, optimism, happiness, and pleasure.

    Social

    • More helpful, generous, and compassionate.
    • More forgiving.
    • Feel less lonely and isolated and are more outgoing.

    While those are all perks that anyone can enjoy, positive psychology is particularly useful for anyone in a leadership position. If we’re not taking care of ourselves mentally and physically, coping with the demands of being a leader will be more difficult.

    Gratitude research from Emmons and Anjali Mishra discovered that expressing gratitude lowers stress. They also found that “gratitude enhances effortful goal striving.”

    That’s well and good? But, what how can gratitude make you a better and more effective leader?

    Nicole Lipkin writes that leaders should cultivate gratitude because it breeds employee engagement, more positive interactions, and builds resistance. What’s more, gratitude helps you acknowledge your accomplishments. Thankfulness encourages you to focus on your successes. You will not be consumed by the success or failures of your competitors, and you’ll be making the world better for those around you.

    Gratitude, while allowing you to embrace your accomplishments, also keeps your ego in check. That’s because appreciation will enable you to realize that without assistance from others, you wouldn’t be as successful. Maybe it’s because you have a spouse who was your primary source of support and inspiration. A business partner provided you with the finances to launch your business. Or, thanks to their hard work and dedication, your business idea has become a reality because of your employees.

    Also, when we’re thankful and optimistic, others gravitate towards us. Being approachable and encouraging is critical when networking and attracting top talent. A study from the University of Pennsylvania that shows when leaders are grateful to their employees, the employees are 50 percent more successful.

    Furthermore, a study conducted by David DeSteno at Northwestern University found that being thankful or appreciative improves financial patience. And in the words of Gary Vaynerchuk, “It’s impossible not to stay motivated or get too down when you’re feeling grateful.”

    Related: This Simple Daily Habit Will Add More Gratitude to Your Life

    How leaders can practice gratitude daily.

    If you’re ready to tap into the power of gratitude, here are nine simple ways you can practice gratitude day in and out.

    1. Schedule time every day to reflect with gratitude.

    I get it. You have so much on your plate that I doubt practicing gratitude is a priority or at the top of your mind. However, if you block out a specific time to practice gratitude in your calendar, it will become a priority. And, eventually, recognition of what you have to be thankful for will turn into a habit.

    For example, you can up your game of awareness by scheduling time to reflect with gratitude during a break. Consider a meditation-moment by closing your eyes and thinking about any pleasant surprises you’ve experienced so far. Imagine what life would be like without your employees. Consider how good your business is doing — and the thanks should go to your customers, employees and your community.

    Personally, I’ve made gratitude a part of my nightly routine. I jot down everything that I’m thankful for in a gratitude journal. It’s a great way to end the day and puts things in perspective during those more challenging days.

    2. Be authentic.

    Gratitude is more effective when it’s authentic. For example, if an employee just completed a project, as a grateful leader you can do more than offer a generic “thanks.” Name a specific action, saying something like, “Thanks, Jim, for getting this project to me before the due date. I appreciate that you’re so reliable.”

    3. Celebrate wins both big and small.

    We all love celebrating the significant milestones, and, you definitely shouldn’t stop doing that. But the massive breakthroughs don’t happen daily. However, each day, you encounter smaller victories and happy moments. With that in mind, if you catch a team member doing something awesome, grateful leaders shouldn’t hesitate to let them know you like that and appreciate their efforts. Those seemingly unimportant words of encouragement will add-up over time.

    4. Compliment your team daily.

    Compliments and praise should be authentic and genuine, and you may need to practice the extra effort of saying something if you sound phony. Don’t be one-of-those leaders who say, “sure appreciate you” while reading a report. Keep in mind the importance of eye contact, an actual win, a real compliment. When your efforts are genuine, it makes the other person feel like a million bucks and becomes natural to you.

    Examples could be complimenting your colleagues on their sense of humor, asking questions, always arriving early, or taking the initiative. Other options could be recognizing how helpful someone on the team is to others — their positive energy, and their creativity or knowledge.

    5. Don’t forget to acknowledge your unsung heroes.

    Every workplace has a “rockstar.” That’s necessarily a bad thing. But, you don’t want to always shine the spotlight on them. Give acknowledgment to the back-up-singers, the backing band and roadies as well. Recognize your support columns, not just your angel-corbels at the top.

    For example, I always give a shoutout and occasionally send my freelancers goodies. Sending something demonstrates to them that I appreciate their hard work, and it also makes them feel like a part of the team.

    6. Take an interest in your organization.

    I would say that taking an interest could be the most natural good thing you could do to show your employees your gratitude. Just take a couple of minutes to shoot the breeze with them. Some of your employees have no one but the team to depend on for support. You can include them as part of your team by giving them a shout-out.

    Send an email, shoot out a quick Slack — do something. Ask your team questions so that you get to know who they are. Inquire about how they’re doing, and what they’re into and thinking about. It’s a simple way to show that you care about them as a person and that they’re a part of your organization’s community.

    7. Provide learning opportunities.

    Research from ClearCompany shows that 76 percent of employees want opportunities for career growth. Go ahead and provide them with personal and professional learning opportunities. Examples are online classes, in-person workshops, or the chance to attend an industry conference — maybe even meeting up with you and your group.

    Related: This Is How to Boost Employee Retention With Lifelong Learning

    8. Let employees have a say.

    When employees have the opportunity to voice their opinions and share their ideas, they feel more valued. It’s also another way to express your gratitude since it lets them know that you want them involved in big decisions and successes.

    You can always try out the good ole suggestion box. But, I think it’s more effective to solicit feedback from your team and leave time at the end of meetings with them, to add their input.

    9. Create a positive work culture.

    Finally, fostering a positive work culture will make your team more productive, happy, creative, and collaborative. Cultivating a positive culture amid the mad rush in tech also demonstrates that you value and respect your team as people and not just another cog in the business wheel.

    There are numerous ways you can achieve a positive atmosphere, and thus have a positive impact on your team. You can start by greeting your employees when they arrive every morning. You could also surprise them by buying lunch, playing games on a Friday afternoon, and being respectful of their time. Don’t forget to grant your team autonomy and address any toxic behaviors ASAP.

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    John Rampton

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  • The 5 Key Qualities of a Good Leader | Entrepreneur

    The 5 Key Qualities of a Good Leader | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In today’s fiercely competitive business landscape, the demand for exceptional teams capable of innovative thinking and delivering stellar outcomes has never been greater. Consequently, the creation of high-performance teams has become a paramount objective for numerous top-tier companies.

    A cornerstone of high-performance teams lies in effective leadership. Virtually no empowered team attains greatness without a strong leader at its helm. Leaders are the driving force that steers and inspires individuals toward a shared objective, ensuring seamless alignment and collaborative harmony among team members.

    Throughout my career, I have had the opportunity to interact with powerful leaders of highly empowered teams. Over time, I have noticed several attributes that each of these effective leaders possess. In this article, we will explore five of the most important leadership attributes: Confidence, integrity, sacrifice, tenacity and enthusiasm.

    Related: 10 Simple Steps to Build an Exceptional and Efficient Team

    1. Confidence

    Being a high-performance leader entails having unwavering confidence in both yourself and your team.

    Fostering confidence in your team necessitates letting go of micromanagement. It’s essential to convey your support and trust to your team members. While addressing any shortcomings with constructive feedback is crucial, it’s equally important to demonstrate your belief in their capacity to improve.

    Ironically, your personal confidence can receive a significant boost by acknowledging your own weaknesses. By recognizing areas where you may fall short, you open the door to delegating related tasks to your team. This empowerment allows your team members to excel in areas where your strengths may not lie. Consequently, you can focus on tasks where you excel, leading to a self-assured boost in your own confidence.

    Related: 10 Ways to Build Your Entrepreneurial Confidence

    2. Integrity

    Trust stands as an essential prerequisite in the realm of team leadership. Devoid of trust, a team cannot truly exist.

    This fundamental truth resonates strongly with accomplished military leaders who understand that obedience to orders becomes uncertain without their soldiers’ trust and respect. Such circumstances can have profound consequences, potentially affecting lives in the process.

    To showcase your personal integrity to your team, prioritize honesty and fairness in all your actions. Consistently apply your principles when addressing various situations, and maintain open and transparent communication with all team members. Uphold your commitments and promises, even when you believe they might challenge your reputation. Such actions will foster a deeper trust and reliance within your team.

    Related: The Importance Of Honesty And Integrity In Business

    3. Sacrifice

    Evolving into a high-performance leader should never revolve around seeking accolades or personal glory. True leadership entails making sacrifices and consistently prioritizing the needs of others above your own.

    I’ve come to realize that achieving greatness often demands sacrifice. In my journey, both my family and my business have required significant investments of time, effort, money and even sleep. Every ounce of energy I’ve dedicated to these priorities has proven to be worthwhile. While the path to creating what matters most to me has been marked by hard work, I can honestly say that I’ve never regretted a single moment of it.

    Finally, a great leader understands that their success is intricately tied to the well-being and growth of their team. By consistently putting the needs of others at the forefront, a leader not only fosters a harmonious and motivated team but also paves the way for their own growth and fulfillment in the process. After all, leadership, at its core, is a journey of service and dedication to a higher purpose beyond personal glory.

    4. Tenacity

    If you lack tenacity, venturing into leadership might not be your right path. The leadership journey is not always a walk in the park; it can often feel like an arduous uphill battle. Life throws challenges, uncertainties and obstacles your way, and as a leader, you must navigate through them with determination and unwavering resolve.

    Having tenacity, often called “grit,” is akin to having the sturdy foundation upon which your leadership journey is built. It’s the inner strength that propels you forward when faced with adversity. Without it, it’s easy to become disheartened or give up when the going gets tough.

    Leadership demands more than just vision and charisma; it requires the resilience to withstand setbacks and the determination to persevere in the face of adversity. Tenacity becomes your compass, guiding you through the stormy seas of leadership, ensuring you survive and thrive in the most challenging circumstances. So, if you aspire to lead, nurture and harness your tenacity, it will be your steadfast companion on your leadership journey.

    Related: Why Tenacity Is One of the Most Critical but Overlooked Entrepreneurial Skills

    5. Enthusiasm

    Enthusiasm is the lifeblood of sustained excellence in any field. Enthusiasm is also the spark that ignites your passion and drives you to push boundaries, persevere through challenges and maintain an unwavering focus on your goals. Without genuine enthusiasm for your work, the risk of boredom and burnout looms large on the horizon.

    In the realm of leadership, enthusiasm is contagious. When a leader exudes genuine enthusiasm for their vision and mission, it has a ripple effect throughout the team. It boosts team morale and inspires individuals to go the extra mile, fostering a culture of high performance and achievement.

    Enthusiasm is not a fleeting emotion but a reservoir of energy and drive that propels individuals toward greatness. It sustains tenacity and makes the sacrifices worthwhile, as the passion for the journey and the desire to excel remain undiminished. In essence, enthusiasm drives high-performance leaders, propelling them to achieve extraordinary feats and leave a lasting legacy.

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    Don Weber

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  • Who Is Lachlan Murdoch? Meet Rupert Murdoch’s Son, Successor | Entrepreneur

    Who Is Lachlan Murdoch? Meet Rupert Murdoch’s Son, Successor | Entrepreneur

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    Rupert Murdoch is stepping down from his media conglomerate.

    After 70 years at the helm of Fox and News Corp., both companies announced the 92-year-old’s retirement on Thursday. Son Lachlan has been crowned his successor and the new sole Chair of News Corp.

    Rupert Murdoch is set to step down after a shareholders meeting in November and will be appointed Chairman Emeritus of both companies.

    “We are grateful that he will serve as Chairman Emeritus and know he will continue to provide valued counsel to both companies,” Lachlan stated in the company announcement.

    David Paul Morris/Bloomberg via Getty Images | Rupert Murdoch and Lachlan Murdoch at the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on July 13, 2018.

    At that time, Lachlan will assume his new role and continue to serve as Executive Chair and Chief Executive Officer of Fox Corporation. He’s held his current titles since 2019, when he took over operations after the company sold the majority of 20th Century Fox to the Walt Disney Company, per The New York Times. The deal was reportedly worth $71.3 billion, according to NPR.

    Keep scrolling for more details about the new boss at the news giant.

    Who is Lachlan Murdoch?

    Lachlan Murdoch, 52, is Rupert Murdoch’s eldest son. He was born in London but grew up in the United States and graduated from Princeton University. He joined the family business at age 18, and by the time he was 34, he was one of the top three News Corp executives with control over the New York Post and several Fox TV franchises in the U.S., according to The Guardian.

    In pop culture, he’s been rumored to be the real-life inspiration for Kendall Roy from the HBO show “Succession,” which tells the story of a founder of a news conglomerate struggling with the decision to hand over his company to one of his four children. Kendall, the not-technically-eldest-boy, had been pining for the job since the pilot. The show ended with a final, fourth season in May, featured the siblings vying for the role.

    RELATED: Dominion v. Fox News: A $787.5 Million Crisis Management Lesson

    It has long been rumored that the Murdoch children, namely Lachlan and his brother James, 50, were both interested in taking over, as the duo were named co-chairmen of 21st Century Fox in 2015, per CNN.

    Lachlan stepped in as the CEO of the Fox Corporation in 2019, before James left the company in 2020 citing “disagreements over certain editorial content” following the 2020 presidential election coverage, according to CNN.

    Patrick T. Fallon/Bloomberg via Getty Images | Lachlan Murdoch, co-chairman and chief executive officer of Fox Corp.,
    arrives during the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Thursday, July 11, 2019.

    Lachlan mainly resides in Australia, where he founded an Australian private investment company, Illyria. He married his wife Sarah in 1999, and the couple shares three children.

    What is Lachlan Murdoch’s net worth?

    Rupert Murdoch and his family have a combined net worth of $17.4 billion, per Forbes.

    Lachlan’s total compensation for the fiscal year 2022 was $21,748,681, with a base salary of $3 million, according to an SEC filing. In 2021, his total compensation was $27,675,399.

    There’s been no word on what his new paycheck will look like.

    RELATED: Fox Entertainment Acquires TMZ

    Who are Rupert Murdoch’s other children?

    In addition to Lachlan, Rupert Murdoch is the father of five other children.

    Rupert shares his eldest daughter, Prudence Macleod, with his first wife, Patricia Booker, per CNN. The two divorced in 1967. A few months later, he married Anna Torv. The couple had three children: Elisabeth, now 55, Lachlan, and James.

    After 31 years of marriage, the pair divorced in 1999. That same year, Murdoch went on to marry Wendi Deng. The couple welcomed daughter Grace in 2001, and their daughter Chloe Murdoch in 2003. Deng and Murdoch divorced in 2013.

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    Entrepreneur Staff

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  • 6 Myths About Leadership That May Be Holding You Back | Entrepreneur

    6 Myths About Leadership That May Be Holding You Back | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Leadership is a complex concept that has been the subject of extensive research, discussion, and debate. Despite the wealth of information available on the topic, several myths and misconceptions persist about being an effective leader. This article will explore some of these myths and explain why they are not necessarily true.

    Here are six common myths about leadership that may be holding you back:

    Myth #1: Leaders are born, not made

    The idea that “leaders are born, not made” is a common myth about leadership. While some natural talents and traits may predispose specific individuals to leadership roles, most leadership skills can be developed and honed through experience, training and education.

    Influential leaders have had to work hard to develop skills and overcome personal obstacles. Leadership cannot simply be inherited or innate, but it is a skill that can be learned and developed over time.

    Furthermore, there are many types of leaders, and different leadership styles can be effective in different situations. For example, some leaders may be naturally charismatic and able to inspire others through their personalities, while others may be more analytical and strategic in their approach.

    While some individuals may naturally be inclined towards leadership, anyone can become an effective leader with the proper training, experience and dedication.

    Related: 6 Essential Leadership Skills That Drive Success

    Myth #2: Leaders must be in charge

    While it is true that leaders often hold positions of authority and are responsible for making important decisions, leadership is not limited to those in formal leadership positions. Leadership can be demonstrated by anyone who takes the initiative, inspires others and creates positive change, regardless of their official role or title.

    Some of the most influential leaders do not hold formal leadership positions but still manage to influence others and make a difference. For example, a team member who takes the initiative to solve a problem or improve a process demonstrates leadership skills, even if they do not have a title or position of authority.

    Effective leadership requires collaboration and teamwork, and leaders who recognize the strengths and contributions of others are more likely to succeed. In many cases, a leader who delegates responsibility and empowers others to take ownership of tasks and projects can achieve more significant results than one who tries to control everything.

    Myth #3: Leaders always know what to do

    Leaders may have a clear vision and direction for their team or organization, but they are not omniscient and only sometimes have all the answers. Effective leaders recognize that failure is a natural part of the learning process and are not afraid to make mistakes or take calculated risks. They use failures as opportunities to learn and grow and encourage their team members to do the same.

    Effective leaders often seek input and advice from others and are open to feedback and criticism. They recognize that they have some expertise or experience in every area and rely on their team members and colleagues to contribute their knowledge and insights.

    Influential leaders are adaptable and flexible and can adjust their plans and strategies as circumstances change. They do not cling to their ideas or plans in the face of new information or changing circumstances but are willing to adjust and pivot as needed.

    Related: Learning From Failure Is What Makes Entrepreneurs Better Leaders

    Myth #4: Leaders are always confident and self-assured

    True leaders often face uncertain and unpredictable situations and may only sometimes have all the answers. In these situations, it’s natural for a leader to feel some degree of uncertainty or doubt.

    The key difference between a leader and someone who appears confident is that a leader can acknowledge their limitations and vulnerabilities while still maintaining their focus and determination. They are not afraid to ask for help or admit when they don’t know something.

    Leaders who are open and honest about their struggles can inspire greater trust and respect from their team. By showing they are human and vulnerable like everyone else, they can build stronger relationships with those they lead and create a more collaborative and supportive work environment.

    Confidence is essential for a leader; the idea that leaders are always confident and self-assured is a myth. True leaders can acknowledge their limitations and vulnerabilities while maintaining their focus and determination to achieve their goals.

    Related: 7 Ways to Help Boost Your Confidence at Work

    Myth #5: Leaders must be charismatic

    Charisma refers to a person’s ability to charm and persuade others with their personality and presence. While this can be a valuable asset for a leader, other qualities are necessary for effective leadership. Some of the most successful leaders in history have been introverted or understated in their demeanor, yet they were still able to inspire and motivate others.

    Effective leadership is about more than just personality traits. It requires strategic thinking, decision-making, communication and building and motivating a team. These skills can be developed and honed over time, regardless of whether or not a leader is naturally charismatic.

    Refraining from relying too heavily on charisma can be a liability for a leader. Charismatic leaders may be skilled at getting people excited and energized but may also be prone to making impulsive decisions or over-promising what they can deliver.

    Related: 10 Popular Myths About Leadership and How to Overcome Them

    Myth #6: Leaders must be tough and unemotional

    Another common misconception about leadership is that effective leaders must be tough and unemotional, able to make difficult decisions without getting emotionally involved. However, the reality is that effective leaders can balance their emotional intelligence with their analytical skills, recognizing the importance of empathy and rationality in decision-making.

    While there are many myths and misconceptions about being an effective leader, leadership cannot be reduced to a simple formula or set of traits. Effective leaders are willing to invest in their growth and development, inspire and motivate others toward a common goal, and balance their emotional intelligence and analytical skills. By dispelling these leadership myths, we can create a more realistic and nuanced understanding of what it means to be an effective leader and cultivate the skills and qualities essential for success in any leadership role.

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    Chris Mayfield

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  • Cheaters Are Everywhere. To Survive, Leaders Must Stay One Step Ahead.

    Cheaters Are Everywhere. To Survive, Leaders Must Stay One Step Ahead.

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    Opinions expressed by Entrepreneur contributors are their own.

    Good gracious, savant (allegedly) cheat in more than 100 matches? That seems to be what the chess community and reigning chess champ Magnus Carlsen are insinuating. Apparently, it’s not just the chess world that’s fallen victim to a cheating scandal. The fishing community has been rocked after it was recently revealed that lead weights were used to overstate the size of a fish caught in a Lake Erie contest. When will this insanity end?

    The fact is that it will never end. Cheating is as American as apple pie. I know this because I’ve been running a small business for more than 25 years. And when you run a small business for that long, you get used to people who cheat you out of money or in business. They’re everywhere and on both sides of the business.

    It’s the woman in California who allegedly embezzled more than a million bucks from her employer. Or another woman in who was accused of stealing $2 million from her employer’s credit card. Let’s also give a shout-out to the bookkeeper from Albuquerque who is thought to have stolen $175 thousand from her employer and another bookkeeper in Rhode Island who was ordered to pay $600 thousand that she pilfered from her employer. Oh, and let’s not forget the ex-Apple employee that was charged with , taking kickbacks and money laundering to the tune of $10 million. Or the administrator at the Yale School of Medicine, who pleaded guilty to taking more than $40 million. Yes, $40 million.

    But it doesn’t end with employees. Some business owners can’t be trusted, either.

    Like the restaurant owner in New York’s Hudson Valley who was convicted of torching his business for the insurance money. Or the Missouri restaurant owner — and many others — who allegedly defrauded the government out of Paycheck Protection Program funds. There’s the diner in Pennsylvania and the BBQ joint in Texas that cheated (allegedly in the BBQ place’s case) its employees out of their tips. And another guy in Hudson Valley (is there something in the water there?) that was sentenced for defrauding prospective franchisees of his bagel company. And then there’s the restaurant owner in Connecticut who was convicted and the auto shop owner in Florida who was accused of cheating on their taxes.

    Related: Confessions of a Cheating Nation: One in Four Have Stolen From Their Employers

    These are just a few of the stories that actually made it to the media over the past few months. But you and I know that we’re just scratching the surface. There are cheating employees who steal office supplies and inventory and take sick days when they’re not actually sick. There are cheating business owners who defraud the government, overbill their customers, negotiate in bad faith with their suppliers and promise their employees compensation that they never have any intention of paying. A lot of this stuff never makes the news. A lot of this stuff is going on right now. A lot of the people doing this stuff never get caught.

    It’s not just Hans Niemann who cheats. There are cheaters everywhere. And anyone who has run a business for a period of time will confirm that. It’s a fact of life. So here’s some advice: Don’t waste your time getting upset, angry or frustrated. You’ll never stop the cheating. But you can minimize the financial impacts on your business. How?

    Related: ‘Lying and Cheating to Get Money’: Elizabeth Holmes Trial Begins in California

    Start by requiring people in financial positions to take time off multiple times a year — because cheating bookkeepers get found out when they’re not around. Make sure you’re segregating financial duties, so the same person who’s handling cash isn’t handling the books or invoicing. Require multiple signatures and multi-factor authentication on your bank account and get notices whenever certain transactions are completed. Have someone outside your company do the bank reconciliations because another set of eyes often sees things. Lock up your office supplies and inventory. Install security cameras. Pay attention to your general ledger and financial statements and question anything that seems out of the ordinary. Trust your people, but verify. Don’t be cynical, but be realistic.

    And what about you? Are you cheating on your taxes? Your customers? Your suppliers? Here’s some news for you: people know. They can tell. Word gets around. And if you are behaving this way, then I can guarantee that you’re not running a very successful, sustainable business because ethical business people don’t do business with unethical people. And business is all about trust. And reputation. There’s no question that you’re losing out on deals, projects and customers. I know it. And so do you.

    Cheaters are going to cheat. Even chess players and fishermen. Even your employees. But not you. When you’re a business owner, there are plenty of reasons to lose sleep at night. But you can minimize your losses from your cheating employees. And you can rest a little bit easier if you’re able to look at yourself in the mirror each morning.

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    Gene Marks

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